Chevron Co. (NYSE:CVX) Shares Purchased by Old North State Wealth Management LLC

Old North State Wealth Management LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 19.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,520 shares of the oil and gas company’s stock after acquiring an additional 583 shares during the quarter. Old North State Wealth Management LLC’s holdings in Chevron were worth $510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CVX. State Street Corp grew its position in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after buying an additional 672,244 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Chevron by 3.4% in the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after buying an additional 573,218 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Chevron by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after buying an additional 138,496 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $153.14 on Wednesday. The company has a market capitalization of $275.20 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.29 and a beta of 1.11. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a 50 day moving average of $152.97 and a two-hundred day moving average of $150.93. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company posted $3.45 EPS. As a group, equities analysts anticipate that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is currently 67.08%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday. Finally, Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.33.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.